Canadian Gold Corp. Engages Velocity Trade as Market Maker

Rhea-AI Summary

Canadian Gold Corp. has engaged Velocity Trade Capital Ltd. to provide market-making services to the company in order to maintain an orderly market and improve share liquidity. Velocity Trade will receive a monthly fee of $5,000, and either party may terminate the contract after 60 days with a 30-day written notice. Velocity Trade is a private investment dealer registered in multiple provinces and internationally regulated. The engagement is subject to TSX Venture Exchange acceptance.

Toronto, Ontario--(Newsfile Corp. - January 19, 2024) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce that it has engaged Velocity Trade Capital Ltd. ("Velocity Trade") to provide market-making services to the Company in accordance with applicable securities laws and the policies of the TSX Venture Exchange ("Exchange"). Velocity Trade will manage trading of the Company's shares from time to time for the purposes of maintaining an orderly market, with a view to reducing trading volatility and improving the liquidity of the Company's shares. The funding and securities required for these services undertaken will be provided by Velocity Trade.

In consideration for the market liquidity services, Canadian Gold has agreed to pay Velocity Trade a monthly fee equal to $5,000 per month, and after a period of 60 days, either party may terminate the contract by providing the other with 30 days prior written notice of termination.

Velocity Trade is a private and independent investment dealer headquartered in Toronto, Ontario, and registered for trading in the provinces of Ontario, British Columbia, Alberta, and Manitoba. Velocity Trade is a member of the TMX, and of the Canadian Investment Regulatory Organization ("CIRO"). Additionally, the firm, through its affiliate companies, is also regulated internationally by the UK's Financial Conduct Authority (FCA), the Authority for Financial Markets (AFM) in the Netherlands, the Australian Securities and Investments Commission (ASIC), South Africa's Financial Sector Conduct Authority (FSCA), and the Monetary Authority of Singapore (MAS).

Velocity Trade and Canadian Gold are not related parties and have no other agreements other than the market liquidity agreement which is the subject of this news release.

The engagement of Velocity Trade to provide market liquidity services to Canadian Gold is subject to acceptance of the TSX Venture Exchange.

For Further Information, Please Contact:

Ed Huebert
President & CEO
Canadian Gold Corp.
(204) 771-2180
ed@canadiangoldcorp.com

About Canadian Gold Corp.

Canadian Gold Corp. is a Toronto-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The Company holds a 100% interest in greenfields exploration properties in Ontario and Quebec adjacent to some of Canada's largest gold mines and development projects, specifically, the Canadian Malartic Mine (QC), the Hemlo Mine (ON) and Hammond Reef Project (ON). The Company is 36% owned by Robert McEwen, who was the founder and CEO of Goldcorp and is Chairman and CEO of McEwen Mining.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194854

FAQ

What services has Canadian Gold Corp. engaged Velocity Trade Capital Ltd. for?

Canadian Gold Corp. has engaged Velocity Trade Capital Ltd. to provide market-making services to maintain an orderly market and improve share liquidity.

What is the monthly fee Canadian Gold Corp. agreed to pay Velocity Trade?

Canadian Gold Corp. has agreed to pay Velocity Trade a monthly fee equal to $5,000.

How can the contract between Canadian Gold Corp. and Velocity Trade be terminated?

Either party may terminate the contract after 60 days with a 30-day written notice.

Where is Velocity Trade Capital Ltd. headquartered?

Velocity Trade Capital Ltd. is headquartered in Toronto, Ontario.

What regulatory organizations is Velocity Trade Capital Ltd. a member of?

Velocity Trade Capital Ltd. is a member of the TMX, and of the Canadian Investment Regulatory Organization (CIRO), and is also internationally regulated by multiple regulatory bodies.